Odisha to relax guideline for start-up status

Bhubaneswar: Odisha government seriously considers relaxing the year requirement for a firm to consider as a start-up firm. State to relax the year requirement by another 5 years. As per the current start-up policy of Odisha, firm up to 5 years of inception given start-up status. Till date 130 firms registered themselves as start-up firm in the specially designed state government start-up portal. As per DIPP guideline government wants to relax the year requirement for start-up status up to 10 years, “said L M Gupta, Additional Chief Secretary, Government of Odisha.
At the Road to Global Entrepreneurship Program Summit (GES) organized in association with FICCI at KIIT University Campus, He said that, “International event Global Entrepreneurship Program Summit (GES) going to be organized at Hyderabad in 2017 Feb 3-5. Around two dozens of representative from this state will represent Odisha at the prestigious summit. No other state will match this number.”
Mr. Gupta said that, “In Odisha till now 24 incubators are here and 5 of them registered with state government. KIIT TBI already creates more than 100 start-ups, which is a commendable work.”
“Odisha government eager to provides proactive support to start-ups. We also keen to help the women entrepreneurs of the state in every possible way,” said by Mr. Prafulla Samal, MSME Minister, Government of Odisha. He attends the event as chief guest.
Mr. Nirakar Saxena, Assistant General Secreatary and head of Center for science, technology and innovation said that, “Recently Tata Trust declared to provide support to Indian Innovation Growth Fund (IIGF). World class institution MIT also given support to this fund. Apart from this a special 50 million dollar fund also set up to help start up ecosystem. During last 4 years 104 firms provided with fund support as grants. For this fund USA contributes 7.5 million dollar and India provides 5.5 million dollar. Four country jointly working for this fund.”, He added.
Other dignitaries presents at the event are Jagi Mangat Panda, MD, Ortel Communication and Mr Hrushikesh Mohanty, Vice-Chancellor, KIIT-KISS University.